Fox Co. (NASDAQ:FOXA) Shares Sold by Empowered Funds LLC

Empowered Funds LLC cut its holdings in Fox Co. (NASDAQ:FOXA - Free Report) by 43.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 281,456 shares of the company's stock after selling 220,001 shares during the quarter. Empowered Funds LLC owned 0.06% of FOX worth $11,914,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc raised its position in FOX by 4.8% during the third quarter. CIBC Asset Management Inc now owns 35,301 shares of the company's stock worth $1,494,000 after acquiring an additional 1,616 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of FOX by 69.6% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 16,674 shares of the company's stock worth $706,000 after purchasing an additional 6,843 shares during the last quarter. GSA Capital Partners LLP purchased a new position in FOX in the 3rd quarter valued at about $620,000. Entropy Technologies LP acquired a new stake in FOX in the 3rd quarter worth about $546,000. Finally, Crossmark Global Holdings Inc. increased its stake in FOX by 1.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company's stock worth $991,000 after buying an additional 385 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Insiders Place Their Bets

In other FOX news, COO John Nallen sold 182,481 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the transaction, the chief operating officer now owns 249,424 shares of the company's stock, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the sale, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FOXA has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their price target on FOX from $46.00 to $51.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Cfra reaffirmed a "sell" rating on shares of FOX in a report on Wednesday, September 25th. Guggenheim raised their price target on shares of FOX from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Morgan Stanley increased their price objective on shares of FOX from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. Finally, TD Cowen boosted their target price on FOX from $36.00 to $42.00 and gave the stock a "hold" rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $44.00.

FOX Trading Down 3.9 %

FOXA traded down $1.84 on Friday, hitting $45.64. The company had a trading volume of 8,087,928 shares, compared to its average volume of 3,040,998. The company's fifty day moving average price is $42.12 and its 200 day moving average price is $38.04. Fox Co. has a 1 year low of $28.28 and a 1 year high of $47.58. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The firm has a market cap of $21.00 billion, a P/E ratio of 11.54, a PEG ratio of 1.20 and a beta of 0.76.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.33. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. As a group, equities analysts expect that Fox Co. will post 3.94 earnings per share for the current year.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.